Bitcoin Analysis

[Day_Trade_Ideas]

Daily Forecast

Bitcoin holding below 6700 keeps the pressure on for a retest of the 6430 low. A break below 6400 in the bear trend is likely to retest the February low at 5920. I really do not see a strong reason for this to hold. A break lower initially targets 5555.

Looks to me like bears remain in control after a very weak recovery. First resistance at 6850/6900 then 7100/7150. If we continue higher look for 7250 before the high this week at 7500.

 

[Day_Trade_Ideas]

Bitcoin Analysis for April 6th 2018

Recap

Bitcoin bulls are in trouble now & I do not favour there chances as we hold below important trend line support at 6800/6750.

Forecast

Bitcoin holding below 6700 keeps the pressure on for a retest of the 6430 low. A break below 6400 in the bear trend is likely to retest the February low at 5920. I really do not see a strong reason for this to hold. A break lower initially targets 5555.

Looks to me like bears remain in control after a very weak recovery. First resistance at 6850/6900 then 7100/7150. If we continue higher look for 7250 before the high this week at 7500.

 

[Day_Trade_Ideas]

Daily Forecast - 09 April 2018

Bitcoin bulls are putting up a fight. Holding above 6850/6900 targets 7100/7150 & 7250 before the high last week at 7500. Expect strong resistance at 7670/7700. A break higher however targets 8100/8150 perhaps as far as strong resistance at 8550/8600.

Holding below 6700 keeps the pressure on for a retest of the 6430 low. A break below 6400 in the bear trend is likely to retest the February low at 5920. I really do not see a strong reason for this to hold. A break lower initially targets 5555.

 

[Day_Trade_Ideas]

Daily Forecast - 20 April 2018Bitcoin tops just below strong resistance at 8550/8600. Unlikely but a break above 8700 can take prices as far as strong
resistance at 9150/9250. A high for the day recovery is expected here.

Risks are to the downside with minor support at 8000/7950 (just starting to break below here now) then the best support for today at 7750/7700 (WE BOTTOM JUST 55 PIPS ABOVE YESTERDAY). On further losses look for 7550/7500, perhaps as far as 1 month trend line support at 7350/7300. A good chance of a bounce from here today.

 

[fedforex]

will go down but at the end of the year it will go back up

 

[Day_Trade_Ideas]

will go down but at the end of the year it will go back up

We need to break the 8950 area in order to see any downward pressure. Below 8950 though targets 8750/8700 and then 8500/8450. A bounce from these levels is possible on the first test but longs would be very risky. Eventually a break lower would be expected targeting 8150/00 and then 7700.